Halkbank not crossing any lines with Iran

Turkish state-run lender Halkbank’s trade financing with Iran is in line with regulations, the Turkish banking watchdog head said on Monday.

Speaking at a meeting with journalists, Turkey’s BDDK banking regulator chairman Mukim Oztekin also said Halkbank was managing the process well.

Halkbank’s transactions with Iran came into focus after Dec. 31, when President Barack Obama signed into law a fresh set of sanctions targeting financial institutions that deal with Iran’s central bank to stem the flow of oil revenue and persuade Tehran to abandon a suspected nuclear weapons programme.